In the week ending on April 12, integrated energy stock Petrobras (PBR) fell the most among the stocks in the energy space. The stocks are included in the following ETFs:
Chesapeake Energy (CHK) and Range Resources (RRC) saw the second and fifth-highest losses among energy stocks last week. Range Resources and Chesapeake Energy operate with a production mix of 68.9% and 74% in natural gas based on recent quarterly production data. Last week, natural gas May futures closed 0.8% above the lowest closing level since February 20. The weakness in natural gas might have dragged Range Resources and Chesapeake Energy’s performance.
Chevron (CVX) had the third-highest loss among the energy stocks. On April 12, Chevron announced that it entered into a definitive agreement with Anadarko Petroleum (APC) to acquire all of Anadarko Petroleum’s outstanding shares in a stock and cash transaction valued at $33 billion or $65 per share—at a premium of 38.8% to its closing price on April 11. National Oilwell Varco (NOV) had the fourth-highest loss in the energy space.